Marketing.pptx
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The document discusses strategic marketing, measuring and monitoring marketing performance, and developing a marketing plan. It provides guidance on structuring a marketing plan, including an executive summary, objectives, audit, strategies, measurement plans, and contingencies. It also discusses different tools and models for measuring objectives, such as the SERVQUAL model and balanced scorecard. Key performance indicators mentioned include financial measures, customer satisfaction, experience, loyalty, and market share. Both qualitative and quantitative evaluation methods should be used.
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- 2. Reflect on our progress ■ Understanding where Marketing fits into the Strategic process ■ Considered a critical approach for marketing …how marketing works at different levels in organisations ■ How marketing fits into your organisation ■ The key functions of marketing.....how we start with our clients, customers, students, consummers, internal users
- 3. Write a strategic and integrated Marketing Plan for your organisation, or an organisation with which you are familiar. You’re required to apply relevant and appropriate academic models, concepts and tools to demonstrate your understanding of strategic marketing and how this is applied within the organisation. (100% weighting ; 3500 word count) Structure of a Marketing Plan Executive Summary and Table of Content Marketing Objectives Marketing Audit Including a SWOT analysis Including a competitor analysis Marketing Strategies Measurement Plans and Reviewing Contingency/Risk factors (Action Plan) Moving forward on the Marketing Plan
- 4. Consider how you’ll measure your objectives? ■ When we set objectives….consider what tactics we will use to measure the outputs? ■ What can you measure? ■ What ifs........Evaluation of performance ■ Iteration?
- 5. Perceptual Map for Developing new partners Perceptual Mapping NEW/POTENTIAL PARTNERS COLLABORATIONS EXISTING PARTNER COLLABORATION NEW/DIFFERENT OF ENGAGEMENT ACTIVITIES TRADITIONAL/FAMILI AR ENGAGEMENT ACTIVITIES CAN YOU DO DIFFERENT ACTIVITIES WITH THESE EXISTING COLLABORATIO NS WHO’S IN THIS BOX? CARRY ON DOING THE SAME WITH THE SAME PARTNERS? WHO’S IN THIS BOX? DOING FAMILIAR ACTIVIESS WITH NEW PARTNERS WHO’S IN THIS BOX? DOING DIFFERENT ACITIVIES WITH NEW PARTNERS? WHO’S IN THIS BOX
- 6. SERVQUAL MODEL Parasurman, A., Zeithaml, V.A ., Berry, L.L., (1988), SERVQUAL, A Multiple- Item Scale for Measuring Consumer Perception Service Quality, Journal of Marketing, Vol. 64 No. 1 Spring, pp 12-40.
- 7. Managing and Monitoring (Service) Performance ■ Targets ■ Performance Monitoring ■ Reporting and Control actions 12 December 2022
- 8. Marketing Metrics ■ Performance outcomes ■ Financial measures ■ Customer satisfaction ■ Customer experience ■ Customer loyalty – Customer lifetime value – Customer equity ■ Market share
- 9. Qualitative and Quantitative measures? ■ Qualitative ■ Quantitative
- 10. Five ‘W’s of Evaluation ■ Why evaluate ? ■ What to evaluate ■ What criteria for evaluation? ■ Who is the evaluation for? ■ Who should do the evaluation Based on Easterby-Smith ( 1998), Evaluation on Management Practice
- 11. Practice of benchmarking ■ Internal : A comparison among similar operations with your/other organisations ■ Competitor: A comparison to the best of the direct competitors ■ Functional: A comparison of methods to companies/organisation with similar processes in the same function ■ Generic: A comparison of work processes to others who have exemplar practice Based on Camp 1995 p16 cited in Open University Business School B700
- 12. Balance Scorecard Measuring Performance Kaplan R.S. and Norton D.P (1998) The balanced scorecard, measures that drives performance,, Boston, MA Harvard Business School Press Financial and Business Perspectives Internal Process Perspective Staff Development and Improvement Perspective Customer Perspective